samcco09
Long

NZD/USD Bull Flag setup into Resistance

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
-NZDUSD is currently forming a bull flag pattern
-The potential bottom of the flag found moving average, trendline , and Fib support
-Stochastic RSI is in oversold territory and may soon cross over
-With the poor non-farm payrolls report, and dovish tone from the FED, there may be a bearish outlook on USD since a June rate hike is probably no longer on the table
-The pattern will be confirmed by a breakout with a price target of 0.7056-0.7075, which is previous structure where the double top formed in late April and the length of the "flagpole"
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